Reconciliations Manager at E-Barcs Microfinance Bank Limited

Job Overview

Location
Lagos, FCT
Job Type
Full Time
Date Posted
8 days ago

Additional Details

Job ID
111830
Job Views
25

Job Description






Role Summary:




  • The Reconciliations Manager is responsible for overseeing the reconciliation of all financial transactions across various accounts and platforms to ensure accuracy, compliance, and efficiency in financial reporting.

  • The role requires exceptional analytical skills, attention to detail, and a deep understanding of banking operations and regulatory requirements.



Key ResponsibilitiesReconciliation Management




  • Oversee the daily, weekly, and monthly reconciliation of bank accounts, digital payment platforms, and internal systems.

  • Monitor and resolve discrepancies between bank statements, accounting records, and transaction reports.

  • Ensure all suspense and unposted transactions are cleared within specified timelines.

  • Develop and maintain reconciliation procedures and processes in compliance with bank policies and regulatory standards.



Operational Oversight




  • Lead and manage a team of reconciliation officers, ensuring efficient workflow and adherence to deadlines.

  • Conduct root cause analysis of reconciliation issues and implement corrective measures to prevent recurrence.

  • Collaborate with IT and other departments to enhance reconciliation systems and automate processes.

  • Maintain up-to-date knowledge of industry best practices and ensure continuous improvement in reconciliation operations.



Compliance and Reporting




  • Ensure reconciliations are conducted in line with internal controls, audit requirements, and regulatory guidelines.

  • Prepare and submit reconciliation reports to senior management, auditors, and regulators as required.

  • Ensure accurate documentation of reconciliation processes and maintain a comprehensive audit trail.

  • Address audit findings related to reconciliation and implement action plans for resolution.



Stakeholder Management




  • Serve as the primary point of contact for reconciliation-related queries from internal and external stakeholders.

  • Coordinate with financial institutions, vendors, and partners to resolve reconciliation discrepancies.

  • Support the Finance and Risk Management teams by providing insights and data related to reconciliation trends.



Qualifications and Experience



Educational Background:




  • Bachelor's degree in Accounting, Finance, Business Administration, or a related field. A Master's degree or professional certification (e.g., ACA, ACCA, CIMA) is an added advantage.



Experience:




  • Minimum of 5 years of experience in reconciliation, financial operations, or a related role, preferably within the banking or financial services sector.

  • Proven track record in managing teams and implementing process improvements.



Key Competencies and Skills




  • Strong analytical and problem-solving skills.

  • In-depth understanding of banking operations, payment systems, and regulatory requirements.

  • Proficiency in financial software, reconciliation tools, and Microsoft Office Suite, especially Excel.

  • Excellent attention to detail and organizational skills.

  • Strong leadership and team management capabilities.

  • Effective communication and interpersonal skills.

  • Ability to work under pressure and meet deadlines.



Key Performance Indicators (KPIs)




  • Timely and accurate completion of reconciliations.

  • Reduction in unreconciled items and suspense account balances.

  • Resolution of discrepancies within agreed timelines.

  • Compliance with internal and external audit requirements.

  • Employee performance and development within the reconciliation team.



Similar Jobs

Full Time

Outsource Nigeria

Sonographer at CareOne Clinics

Full Time

Cookies

This website uses cookies to ensure you get the best experience on our website. Cookie Policy

Accept